FreeCharge COO Govind Rajan has been named the CEO of the company. Kunal Shah, who had founded FreeCharge in 2010 and had been the CEO since then, will now serve as the Chairman.
FreeCharge, which was acquired by Snapdeal this May in India’s largest tech deal, is in talks with existing and new investors to raise $300 million. This will be Snapdeal’s first fund raise that’s earmarked for a separate entity.
With the launch of Freecharge wallet on Tuesday, Snapdeal is taking on market leader Paytm head on that recently claimed to have more than 100 million wallet users in the country.And whichever side we may look but in the end consumers will be the winners.